The world's two largest economies have been engaged in a trade spat after Trump last month imposed tariffs on steel and aluminium imported into the US from China
Donald Trump/ File Pic
President Donald Trump on Friday said that he was being nice to China on trade-related issues because he has a great respect for his Chinese counterpart Xi Jinping. The world's two largest economies have been engaged in a trade spat after Trump last month imposed tariffs on steel and aluminium imported into the US from China. In retaliation, Beijing also announced to slap additional tariffs worth about USD three billion on 128 US products.
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The two countries have not yet implemented their tariff increases to reach a negotiated settlement.
"I have great respect for President Xi...that's why we're being so nice," Trump told White House reporters in a brief interaction before leaving for Dallas in Texas.
Terming the relationship between the US and China as "great", the President said "but we have to bring fairness into trade between the US and China. And we'll do it".
The top US and Chinese officials today reached a consensus on some trade issues while differences existed on some others as they wrapped up their two-day crucial talks in Beijing to end the tariff spat and avert a trade war between the two major trading partners.
Trump said that the high-powered US delegation led by the Treasury Secretary Steven Mnuchin, which went to China to negotiate on trade-related issues, was on its way back.
"My people are coming back right now from China and we will be doing one thing or another," the US President said, without giving any further details.
According to The Wall Street Journal, the US delegation has handed the Chinese a lengthy list of demands on trade, which among others include reducing the trade imbalance to USD 200 billion. Beijing has called the request as unfair.
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